Nectarine Credit provides a digital platform for managing trade credit workflows, automating processes such as credit applications, bank verifications, and vendor references. This solution reduces operational costs by over 25% and minimizes risk, saving companies more than $100,000 annually while increasing sales by over 15% per year.
Funding
$600K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing trade credit workflows often involves manual processes, leading to inefficiencies and increased operational costs. Verifying credit applications, bank details, and vendor references can be time-consuming and prone to errors. This can result in delayed approvals, increased risk of fraud, and missed sales opportunities.
Solution
Nectarine Credit offers a digital platform designed to streamline and automate trade credit management. The platform digitizes credit applications, automates bank verifications and vendor reference checks, and provides fraud protection tools. By centralizing these processes into an easy-to-use dashboard, Nectarine Credit enables credit teams to make faster, more informed decisions. The platform integrates with various CRM, ERP, and accounting systems, ensuring seamless data flow and improved collaboration across departments.
Target Audience
Nectarine Credit primarily serves manufacturers, distributors, shipping companies, and supply chain companies that extend trade credit to their customers.
Features
- Customizable digital credit applications that can be sent to clients
- Automated bank verification through connections to over 15,000 banks, providing instant access to bank balances and cash flow reports
- Instant vendor reference checks to verify customer payment history
- Fraud protection features including KYB (Know Your Business) protocols, digital tracking, and identity verification
- Real-time data and analytics to prevent malicious and fraudulent activity
- Credit workflow management tools for approving, denying, and requesting changes to credit terms
- Integration with CRM, ERP, and accounting systems such as Microsoft Dynamics, Xero, Salesforce, and QuickBooks